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Acquired Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Net Accumulated Amortization and Accretion

The Company had the following acquired lease intangibles as of the periods set forth below:


		December 31,
(in thousands)		2024				2023
In-place leases		$	522,117				543,892
Above-market leases			103,075				103,896
Total intangible assets			625,192				647,788
Accumulated amortization			(395,209	)			(364,413	)
Acquired lease intangible assets, net		$	229,983				283,375
Below-market leases			586,660				609,369
Accumulated amortization			(222,052	)			(211,067	)
Acquired lease intangible liabilities, net		$	364,608				398,302

The following table provides a summary of amortization and net accretion amounts from acquired lease intangibles:


		Year ended December 31,
(in thousands)		2024				2023				2022				Line item in Consolidated Statements of Operations
In-place lease amortization		$	49,169				44,102				34,568			Depreciation and amortization
Above-market lease amortization			8,860				6,571				5,828			Lease income
Acquired lease intangible asset amortization		$	58,029				50,673				40,396

Below-market lease amortization		$	33,883				37,831				28,642			Lease income

Schedule of Future Amortization Expense and Minimum Rent

The estimated aggregate amortization and net accretion amounts from acquired lease intangibles for the next five years are as follows:


(in thousands)
In Process Year Ending December 31,		Amortization of In-place lease intangibles				Net accretion of Above / Below market lease intangibles
2025		$	33,173				21,657
2026			26,813				20,878
2027			21,290				19,875
2028			16,909				19,767
2029			14,257				19,091